On May 14, LVMH Moët Hennessy Louis Vuitton announced that it has agreed to sell the American fashion brand Marc Jacobs to brand management firm WHP Global. Financial terms of the transaction were not disclosed.
Summary
- LVMH announced the sale of Marc Jacobs to WHP Global
- Marc Jacobs will remain with the brand as Creative Director
- WHP Global, which owns brands including Vera Wang and rag & bone, is expected to surpass $9.5 billion in annual retail sales following the acquisition
- G-III Apparel Group will also join the ownership structure and acquire and operate parts of the brand’s DTC and wholesale businesses
- While financial terms were not disclosed, the brand is reportedly valued at around $1 billion
With the transaction, Marc Jacobs will join WHP Global’s portfolio alongside brands such as Vera Wang and rag & bone. According to the announcement, the acquisition is expected to expand WHP Global’s annual retail sales to more than $9.5 billion.
G-III Apparel Group will also participate in the ownership of Marc Jacobs alongside WHP Global. In addition, the company will acquire and operate certain parts of the brand’s global direct-to-consumer and wholesale businesses.
Marc Jacobs himself is expected to remain with the company as Creative Director.
In a statement, Jacobs said: “I fear and loathe and also love change. While change is inevitable, what remains constant and unwavering is my love for fashion and the joy it brings me. The promise of new possibilities is what continues to excite and inspire me.
When I met with Yehuda Shmidman, it was abundantly clear that his respect, admiration, appreciation and love for the House we built was genuine and sincere (and by we, I mean all of us).
As I continue on my journey as Creative Director, I want to express my indebtedness to all of the passionate, hardworking, devoted, creative and talented teams of people at Marc Jacobs International. We have never rested on our laurels or past successes and I have always relied on and trusted my instincts.
As I gaze toward the future, I remain here in the present with hope and faith. I look forward to partnering with Yehuda to write our next bright chapter.”
He added: “I am forever grateful to Bernard Arnault for his support, belief and trust in me over the last 30 years. It has been an honor and privilege to work alongside the Arnault Family and LVMH.”
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LVMH has held a majority stake in Marc Jacobs since 1997, with the label serving as a key part of the group’s American luxury strategy for decades. In recent years, however, the French luxury conglomerate has increasingly focused on strengthening its core maisons, including Louis Vuitton and Dior, while accelerating portfolio restructuring efforts.
Reports that LVMH had been considering a potential sale of Marc Jacobs have circulated across multiple media outlets since last year, with the brand widely estimated to be valued at approximately $1 billion.
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